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14 November 2019

Cabinet approves near-complete abolition of solidarity surcharge

On Wednesday, the federal cabinet approved draft legislation to reduce the solidarity surcharge. If the bill is passed, the surcharge will, starting in 2021, be completely eliminated for around 90% of those who currently pay it. For a further 6.5% of taxpayers, the surcharge will be reduced. As a result, 96.5% of today’s surcharge payers will be better off.

6 November 2019

Financial Times op-ed on the banking union by Finance Minister Olaf Scholz

Ahead of the “Future of Finance” conference which took place in Frankfurt on 6 November 2019, German Finance Minister Olaf Scholz presented his ideas for completing the banking union in an op-ed for the 6 November edition of the Financial Times. They include a more efficient supervisory regime and crisis management, risk reduction, a European deposit reinsurance scheme and a common tax base for banks in the EU.